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South Plains Financial(SPFI) - 2024 Q2 - Quarterly Results
SPFISouth Plains Financial(SPFI)2024-07-18 20:30

Exhibit 99.1 South Plains Financial, Inc. Reports Second Quarter 2024 Financial Results ● Net income for the second quarter of 2024 was 11.1million,comparedto11.1 million, compared to 10.9 million for the first quarter of 2024 and 29.7millionforthesecondquarterof2023.Thedecreaseinnetincomeforthesecondquarterof2024ascomparedtothesecondquarterof2023wasprimarilyduetothesaleofWindmarkInsuranceAgency,Inc.("Windmark")inthesecondquarterof2023,whichresultedinagainof29.7 million for the second quarter of 2023. The decrease in net income for the second quarter of 2024 as compared to the second quarter of 2023 was primarily due to the sale of Windmark Insurance Agency, Inc. ("Windmark") in the second quarter of 2023, which resulted in a gain of 33.5 million befo ...